Buy Half the House: ISO Rental Biz Partner

[Aimée Hennessy]

Hi, I am looking for someone to partner with for my furnished short term rental. I need someone to buy out my spouse after the split, I will retain my half/equity and you can be an active or silent partner, flexible on involvement. Likely investment of $160-200k or so. Rents incoming are projected around $45k year. First and 2nd floor are a fully furnished, 3 bed 1 bath (& full laundry) short term rental, basement has a regular year-round renter. There is plenty of room to add on above the garage to make it a triplex now - or down the line - which would up the rent another $1500-3000 a month depending on if we did short term furnished or long term unfurnished leases. And maybe more, just an estimate. Located in a college town in the Midwest with major hospital systems and other big employers. Yard is fenced, central air, attached one car garage but could easily convert to 2 car. No sidewalks, only needs lawn mowing and driveway shoveling/plowing in winter. 

Cash flow is great, property is in great condition with nice furnishings and all wood floors except the unfinished part of the basement and tile in laundry/bathroom. Charming old Craftsman that is well built - it can always use some minor work, but overall is a solid house. 

ISO an individual to partner with, and put it into a new LLC, and build an empire. Happy to talk and send lease agreement/pics, virtual tour, have you come see it, inspection, appraisal, etc.

I should sell it but I want to keep it and expand with other properties in time. I realize finding a partner online is tricky, asked a few friends and waiting to hear back, but wanting to move forward quickly - and maybe there’s someone out there who is interested. Obviously, we need to click and work well together, so happy to connect and see if this would be a good fit for us both. 

Please, serious inquiries for partnerships only. I could sell it well over asking in two days, tops, if I listed it; the market here is HOT. I want to retain half ownership for myself and keep the investment long term. Happy to answer detailed questions for serious people. Thanks!